Qualcomm's Profit Fell 25%
In Period, but Revenue Grew

Qualcomm Inc. posted lower fiscal second-quarter earnings and sharply reduced its projections for the next few quarters.

For the quarter ended April 1, the San Diego wireless-communications technology company -- which makes chipsets and licenses patents based on a technology known as code division multiple access, or CDMA -- posted net income of $149 million, or 18 cents a diluted share. That is down 25% from $199 million, or 25...